Doorstep lender NSF needs fresh capital raise after covenants breach

Non-Standard Finance

28/09/2022 07:36

Sept 28 (Reuters) - Doorstep lender Non-Standard Finance
 NSF.L  said on Wednesday it would need to raise fresh capital
after breaching lending covenants tested at the end of its first
and second quarters.
    The company said the fundraising could remedy the covenant
breaches, but it would only be able to attempt to raise the sum
required after it secured clarity on the extent of liabilities
linked to a redress scheme set up to compensate some of its
customers.
 (Reporting by Sinchita Mitra in Bengaluru; Editing by
Subhranshu Sahu)
 ((Sinchita.Mitra@thomsonreuters.com;))